Treasuries are little changed across much of the curve to start the day, and S&P 500 futures are pointing to a positive open for the index. Markets are awaiting Fed Chair Powell’s speech later this morning as part of a NABE conference, although it should be more of the same ultra-dovish tone from the Fed leader. The IMF is calling on rich, developed nations to put aside concerns over relatively high government debt loads and to immediately increase public infrastructure investment in order to “revive economic activity from the sharpest and deepest global economic collapse in contemporary history.” The IMF argues that now is the right time for such projects amid record low interest rates and elevated unemployment due to the pandemic.
Chief Investment Officer
|10/5/2020||Markit US Services PMI||54.6||54.6||54.6||—|
|10/5/2020||Markit US Composite PMI||—||54.3||54.4||—|
|10/5/2020||ISM Services Index||56.2||57.8||56.9||—|
|10/6/2020||JOLTS Job Openings||6500||—||6618||—|
|10/7/2020||MBA Mortgage Applications||—||—||-4.80%||—|
|10/7/2020||FOMC Meeting Minutes||—||—||—||—|
|10/8/2020||Initial Jobless Claims||820k||—||837k||—|
|10/8/2020||Bloomberg Consumer Comfort||—||—||49.3||—|
|10/9/2020||Bloomberg Oct. United States Economic Survey|
|10/9/2020||Wholesale Inventories MoM||0.50%||—||0.50%||—|
|10/9/2020||Wholesale Trade Sales MoM||—||—||4.60%||—|
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